Announcement • Jun 15
Cosa Resources Announces Summer Drill Plans For The Darby Joint Venture With Denison Mines Cosa Resources announced summer plans for the Company's Darby project. Darby is a joint venture between Cosa and Denison Mines and is located 10 kilometres west of Cameco's Cigar Lake Mine in the eastern Athabasca Basin, Saskatchewan. Cosa is the operator of Darby and holds a 70% interest with Denison holding a 30% interest. Drilling at Darby is expected after completion of a significant drill program at the Company's Murphy Lake North joint venture to follow up uranium mineralization intersected in winter 2026. Drilling is planned at the Gamma trend to follow up structure, alteration, and strongly anomalous uranium geochemistry intersected during the winter 2026 drill program. Drilling is planned at the Bravo trend to follow up weak uranium mineralization proximal to structure and alteration intersected by historical drilling. Drilling at Darby is planned to comprise up to 2,000 metres at the Gamma and Bravo trends. Drilling at Gamma will follow up Cosa's winter 2026 drill program which intersected a broad zone of structure with significant unconformity offset, alteration, and elevated to strongly anomalous uranium geochemistry on trend with historical uranium mineralization. Drilling at Bravo will follow up compelling historical results including structure, alteration, and uranium mineralization. The Company remains on schedule and expects to announce the commencement of drilling at the Murphy Lake North joint venture in the coming days. Drilling at Murphy Lake North is expected to take a minimum of two months to complete and will be followed by drilling at Darby. Located 10 kilometres west of the Cigar Lake Mine, Darby contains multiple prospective conductive trends and several intersections of weak uranium mineralization. Historical drilling indicates that many of these trends are highly prospective for uranium deposits characteristic of the eastern Athabasca Basin, yet most of the strike length has not been effectively evaluated. Work by Cosa in 2025 prioritized these trends and identified several historical drill holes with results that suggest proximity to uranium mineralization. Initial drilling results from winter 2026 significantly upgraded multiple trends. Summer drilling is expected to commence in late August and will include follow up of anomalous results from both winter 2026 and historical drilling. Historical drilling and geophysical results for Darby were sourced from the Saskatchewan Mineral Assessment Database (SMAD). SMAD sources for Darby include file numbers 74H14-0021, 74H14-0023, 74H15-0041, 74H15-0053, 74H15-0055, 74H15-0056, 74H15-0066, 74H15-0067, 74I02-0031, 74I02-0042, 74I02-0053, 74I02-0080, 74I02-0095, and MAW00516. Some confidential data and reports not presently available via SMAD were supplied to Cosa by Denison. Verification of historical drilling results included confirming historical drill hole collar locations from air photos and ground checking selected collars with a handheld GPS unit. Basement and lower sandstone sections from most historical drill holes were relogged in 2024 and 2025 by Cosa. Verification of geochemical results for drill holes completed between 2008 and 2010 was facilitated by the reissuance of analytical certificates to Cosa by the Saskatchewan Research Council (SRC). Cosa thanks the SRC for its valued assistance in increasing confidence in the historical dataset. Verification of historical geophysical results included confirming the locations of geophysical survey grids from air photos, compiling survey data and interpretations, and evaluating whether interpreted geophysical results could be reasonably explained by historical and current drilling results. Samples from Cosa's drilling were transported to SRC Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan (ISO/IEC 17025:2005 accredited) for U3O8 assay and multielement analysis. Cosa inserts certified reference material (CRM) blanks and standards into the split core sample series as a QA/QC measure. SRC conducts a QA/QC programme which includes repeat analyses and insertion of CRM standards CAR218, BL4A, and BL2A, as appropriate. SRC's CRM results are verified by Cosa staff. The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by Andy Carmichael, P.Geo., Vice President, Exploration for Cosa. Mr. Carmichael is a Qualified Person as defined under the terms of National Instrument 43-101. Announcement • Jun 05
Cosa Resources Corp. announced that it expects to receive CAD 5.01755 million in funding On June 3, 2026, Cosa Resources Corp. has announced to issue 1,670,000 common shares of the Company (the "Non-FT Shares") at a price of CAD0.60 per Non-FT Share for gross proceeds of CAD 1,002,000 and 3,045,000 charity flow-through common shares of the Company at a price of CAD 0.99 per Charity FT Share for gross proceeds of CAD 3,014,550 and 1,430,000 flow-through common shares of the Company at a price of CAD 0.70 per FT Share for proceeds of CAD 1,001,000 for total proceeds of CAD 5,017,550 on June 3, 2026. The transaction includes investor participation from Denison Mines Corp. In addition, the Company has granted the Underwriters an option (the "Over-Allotment Option"), exercisable in whole or in part by the Underwriters, at any time up to 48 hours prior to the Closing Date (as defined below), to purchase up to an additional CAD750,000 of Offered Securities, in any combination of Non-FT Shares, Charity FT Shares, and/or FT Shares, at the respective issue prices above. Each Charity FT Share and FT Share will qualify as a "flow-through share" within the meaning of the Income Tax Act (Canada) and will qualify as an "eligible flow-through share" as defined in The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan). The FT Shares issuable pursuant to the Offering will be subject to a hold period in Canada ending on the date that is four months plus one day following the Closing Date under applicable Canadian securities laws. The Non-FT Shares and Charity FT Shares will be offered pursuant to Section Part 5A.2 of National Instrument 45-106 Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption to purchasers in each of the provinces Canada. The Non-FT Shares and Charity FT Shares issuable pursuant to the Offering will not be subject to a hold period in Canada, other than any hold periods required by the TSX Venture Exchange (the "TSXV"). The Offering is expected to close on or about June 24, 2026 or such other date as the Company and the Underwriters may agree, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSXV. New Risk • Apr 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 56% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (CA$85.6m market cap, or US$62.5m). 
